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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $222.47
- 5 Days on Market
- MLS # : SW21018230
- Updated Date : 01/29/2021 at 13:51
CONSTRUCTION
- Beds : 3
- Floor Size : 2,270 sqft
- Baths : 2 full
Listing Agent
Exp Realty Of California, Inc.
Listing Agent's Description
This Charming, One of a Kind, One Story 3 Bed, 2 Bath, 3 Car Garage home is located at the end of this beautiful Cul-De-Sac. As you enter this home, you will instantly notice the vaulted ceilings, a warm fireplace for those cold winter nights and newly installed carpet. Bonus room which can be used as an office or guest bedroom. Nice Open Kitchen with granite counters and Kitchen Island. Small Desk Area near Kitchen. Individual Laundry Room Inside. Front and Backyard have a perfectly manicured lawn. Backyard is really peaceful and has a nice patio area. Minutes form Golf Putting Range, Hiking Trails, Schools, Restaurants, Shops and Downtown Murrieta.
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MARKET HIGHLIGHTS
- Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
- Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
- The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
- Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
- As part of Southern California area, Inland Empire market inherits all the benefits from the area.
- Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,400 |
| EXPENSES | Loan Payment | -$1,754 |
| Property Tax | -$520 | |
| Property Insurance | -$82 | |
| Property Management Fees | -$142 | |
|
CASH FLOW
-$97
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$505,000
PROJECTED PRICE
$2,400
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 7.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$139,575
LOAN DETAILS
$1,754
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $126,250 |
| Loan Amount | $378,750 |
4.5
YEARS SAVED
$23,567
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,400
LIST RENT -
$1.06
LIST RENT PER SQFT
-
$2,520
COMP ESTIMATED VALUE -
$1.11
COMP AVG. RENT PER SQFT
Comps Range
-
24364 Corte Sanino Murrieta, CA 3
- 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 1998
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- Rent
- Rent Per SQFT
- $2,400
- $1.06
-
41180 Marseille Court Murrieta, CA 1
- 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1998
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LEASED 04/20/20- Rent
- Rent Per SQFT
- $2,250
- $1.14
-
24556 Calle San Vincente Murrieta, CA 2
- 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1990
![property image]()
LEASED 03/12/20- Rent
- Rent Per SQFT
- $2,300
- $1.10
-
23918 Cadenza Drive Murrieta, CA 4
- 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994
![property image]()
LEASED 08/08/20- Rent
- Rent Per SQFT
- $2,600
- $1.13
-
24353 Corte Sanino Murrieta, CA 5
- 4 beds 2 baths ∙ 2,515 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,515 Sqft ∙ Built 1998
![property image]()
LEASED 09/21/19- Rent
- Rent Per SQFT
- $2,695
- $1.07
PROPERTY LISTING DETAILS
Exp Realty Of California, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21018230
Last Updated: 01/29/2021
